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Last Updated: Nov. 14, 2005 |
| ACCRA |
COST (US$) |
YIELD (p.a.) |
PRICE/SQ.M. (US$) |
| TO BUY |
MONTHLY RENT |
TO BUY |
MONTHLY RENT |
| 100 sq. m. |
70,000 |
400 |
6.86% |
700 |
4.00 |
| 200 sq. m. |
150,000 |
750 |
6.00% |
750 |
3.80 |
| 250 sq. m. |
175,000 |
1,000 |
6.86% |
700 |
4.00 |
| 300 sq. m. |
220,000 |
1,400 |
7.64% |
733 |
4.70 |
| 350 sq. m. |
260,000 |
1,700 |
7.85% |
743 |
4.90 |
| 400 sq. m. |
300,000 |
2,000 |
8.00% |
750 |
5.00 |
| 600+sq. m. |
420,000 |
2,500 |
7.14% |
700 |
4.20 |
|
Source: Global Property Guide |
A 200 sq. m house would cost about US$150,000 (GHC1.43 billion), and would rent for around US$750 (GHC.2 million) per month, giving a gross rental yield of around 6 to 8%. Residential property prices are around US$700 – US$750 per sq. m (GHC6.7 – 7.2 million).
The rental market in Accra is relatively large with 37.5% of all households renting (only 22% for Ghana as a whole). Only about 40.4% of households in Accra claim ownership of their houses (57.4% for Ghana), while another 20.5% live rent-free (19.5% for Ghana). The remaining 1.6% of housing is employer-provided (4.5% for Ghana).
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